#LINK
This is a textbook stairstep up after a V shaped recovery from a Wyckoff Spring as seen in the left chart where ETH did the same.
Breakthrough volume followed by consolidation volume while stair stepping up.
Mikey Likey
LINK
A textbook Wyckoff Reaccumulation Spring with a clear ABC with volume in all the right places.
Sweep the channel with lacking volume while the OBV X-ray view is signaling a solid potential of UP is in the works.
Gold is currently inside a daily/4h bear channel correction to lower 1800 weekly/monthly demand levels.
Overall trend for gold is still bullish on the weekly/monthly, so a buy in the 1800s is a very good opportunity, which would mean forming a Wyckoff Phase C LPS for a potential rally to 2000 by December or next year.
Failing 1800s or holding 2000 level would...
Every chart has a story to tell and this is the story of this chart
The Story:
We are on a heavy down trend
Broke Support Level but with a very high PVR
This High PVR on the down wave were buyers. How do I know? I do not at that time, but I do know later on because price never broke the low of the down wave
Fast move up
The confirmation is the down wave...
Every Chart has a story to say, that's the story of this one:
This video explains the Wyckoff Spring Formation after high volume and the long Plutus signals.
Enjoy!
Learn to Read and Trade any Market
The Story:
We are coming down hitting a major support level with a fast down move (speed index at 7.3 nothing like that on the down moves)
High PVR on the touch of Support = Buyers
High Speed Index 53.7S on the next down move = hard to move down = more buyers
Double signal Wyckoff Spring (WS) and Plutus Reversal Long (PRL) and up we go!
Enjoy!
Learn to...
The Story:
High PVR on 1st touch of support level = buying has started
Increasing PVR as price moves down which means buyers on the down
Double Long signal from Plutus WS and PL
High PVR again without the price moving down and then moving up
Therefore all the previous logic was correct and these were buyers. This called the "FOLLOW" methodology :"Let...
Learn to read the chart.
The Story:
We are balancing on a significant Fib 61.8
Last SI before the fake break of Fib quite High at 17.6, probable buyers
Fake Break = Wyckoff Spring formation start. PVR quite high
Plutus comes with a Long signal PRL
Abnormal SI of 21.0 = buyers on the way down
The reaction : large up volume wave with the corresponding...
With the closure of the current sideways BU/LPS move to the upside, it would initiate the phase E of the accumulation with a break and mark up towards an ATH.
From that point on we would see how price maintains itself above the 3 year resistances and if in turn, rejection is too strong and we enter a long term distribution scenario.
I believe it to be highly...
For the past couple of days, GBPUSD has been ranging with some wide swings . Anytime price consolidates, we refer back to the Wyckoff's Theory to understand what's happening and where price is likely to head next. After the 3rd hit to support level, the pound finally dropped . We know the purpose of this drop and what happens next. However, the pound has now...
IOTA like many other tokens looks like playing the "Wyckoff accumulation Textbook".
Let's see if this plays out.
Note that marks signed on the chart are irrelevant with time and price. They were drawn randomly and not after checking the correct period time intervals and price changes.
Not financial advice!
This post is just an idea! Do you agree? What's your opinion?
Preliminary Support (PS)
The first significant rally that occurs after a prolonged decline that indicates budding demand showing up. It is usually associated with a minor panic preceding that rally.
Selling Climax (SC)
A major panic that occurs at the end of a steep decline in prices. In its classical form it is typified by large range reversal in prices...
After a multi-month period of mark-down ALGO is exhibiting the final stages of Wyckoff's accumulation model:
1. Preliminary Support (PS) established
2. Selling Climax (SC) achieved
3. Automatic Rally (AR) occurred
4. Secondary Tests (ST) occurred
5. Price broke key resistance level (Sign Of Strength / "crossed the creek"
6. Price Backed Up ("walk back to...
